Victories: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Victories
Largest movements
- Tangible fixed assets -€5,195
down €5,195 (-9.5%), from €54,687 to €49,492
of which Land and buildings: -€4,023
- Receivables within one year -€4,189
down €4,189 (-65.9%), from €6,361 to €2,172
of which Other amounts receivable: -€6,164
- Profit (loss) carried forward -€26,281
down €26,281 (-25.0%), from -€104,939 to -€131,220
- Other debts +€14,809
up €14,809 (+9.1%), from €161,951 to €176,760
- Tax, wage and social debts +€1,869
up €1,869 (+508%), from €368 to €2,236
of which Remuneration and social security: +€1,516
- Gross operating margin +€16,004
up €16,004 (+45.3%), from -€35,331 to -€19,327
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,618 | €53,152 | -€9,466 | -15.1% |
| Fixed assets | 21/28 | €54,687 | €49,492 | -€5,195 | -9.5% |
| Tangible fixed assets | 22/27 | €54,687 | €49,492 | -€5,195 | -9.5% |
| Land and buildings | 22 | €51,514 | €47,491 | -€4,023 | -7.8% |
| Plant, machinery and equipment | 23 | €513 | €332 | -€181 | -35.2% |
| Furniture and vehicles | 24 | €2,660 | €1,669 | -€991 | -37.2% |
| Current assets | 29/58 | €7,931 | €3,660 | -€4,271 | -53.9% |
| Amounts receivable within one year | 40/41 | €6,361 | €2,172 | -€4,189 | -65.9% |
| Trade receivables | 40 | €197 | €2,172 | +€1,974 | +1,000% |
| Other amounts receivable | 41 | €6,164 | €0 | -€6,164 | -100% |
| Cash at bank and in hand | 54/58 | €324 | €184 | -€140 | -43.2% |
| Deferred charges and accrued income | 490/1 | €1,246 | €1,304 | +€58 | +4.6% |
| Total equity and liabilities | 10/49 | €62,618 | €53,152 | -€9,466 | -15.1% |
| Equity | 10/15 | -€99,939 | -€126,220 | -€26,281 | -26.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,939 | -€131,220 | -€26,281 | -25.0% |
| Amounts payable | 17/49 | €162,557 | €179,372 | +€16,814 | +10.3% |
| Amounts payable within one year | 42/48 | €162,557 | €179,372 | +€16,814 | +10.3% |
| Trade debts | 44 | €239 | €376 | +€137 | +57.2% |
| Suppliers | 440/4 | €239 | €376 | +€137 | +57.2% |
| Taxes, remuneration and social security | 45 | €368 | €2,236 | +€1,869 | +508% |
| Taxes | 450/3 | €368 | €720 | +€353 | +95.9% |
| Remuneration and social security | 454/9 | - | €1,516 | +€1,516 | |
| Other amounts payable | 47/48 | €161,951 | €176,760 | +€14,809 | +9.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,238 | €5,195 | -€43 | -0.8% |
| Other operating charges | 640/8 | €776 | €799 | +€23 | +2.9% |
| Gross operating margin | 9900 | -€35,331 | -€19,327 | +€16,004 | +45.3% |
| Operating profit (loss) | 9901 | -€41,345 | -€25,320 | +€16,025 | +38.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,014 | €783 | -€231 | -22.8% |
| Recurring financial charges | 65 | €1,014 | €783 | -€231 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€42,359 | -€26,103 | +€16,255 | +38.4% |
| Income taxes | 67/77 | €178 | €177 | -€1 | -0.3% |
| Profit (loss) for the period | 9904 | -€42,537 | -€26,281 | +€16,256 | +38.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,537 | -€26,281 | +€16,256 | +38.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.